0 Larsen & Toubro - Picking the Bottoms

| Saturday, 9 March 2013

The Hourly Chart of LT was in a non trending zone, with oscillators not giving any confirmations and mixed signals.

The Daily Chart was in a strong negative trend.
I was waiting for the ADX trend on the daily to turn around from top.
On 5th March 2013, there happened a positive ADX cross on Hourly chart with a zero cross up of MACD. The Elliot Wave Oscillator turned up. This was supported by  major oscillators which gave convincing buy signals.

The trade was further confirmed on a Daily Chart with ADX negative strength loosing steam, with MACD positive divergence.

2 time frames showing convincing confirmations with majority signals giving buy calls made  me confidently enter into LT call.


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